No Result
View All Result
Monday, October 2, 2023
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    BOST clarifies amount paid for iPhones bought for company executives

    IMF hopeful Ghana will soon reach agreement with Official Credit Committee

    Fuel prices to remain fairly stable at the pumps – COPEC

    Restructuring NIB’s balance sheet won’t fix solvency challenges – Banking consultant cautions

    2023 #CitiBusinessOlympics: Defending champions GCB retains title

    Check out some lively photos from 2023 #CitiBusinessOlympics

    #CitiBusinessOlympics: Citi TV/Citi FM applauded for well-organized event

    Photos: 2023 #CitiBusinessOlympics underway at Eden Heights

    Stakeholders push for West African airline to boost sub-regional trade

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    FBNBank Ghana launches Akye promotion

    Transport owners and the missing NPA: who assured Sentuo to import BRVs?

    BOST clarifies amount paid for iPhones bought for company executives

    Fuel prices to remain fairly stable at the pumps – COPEC

    Restructuring NIB’s balance sheet won’t fix solvency challenges – Banking consultant cautions

    Thousands to participate in 2023 #CitiBusinessOlympics today

    Vodafone Ghana’s commitment to SMEs shines at Business Runway 2023

    SMEs must incentivize staff to unlock full potential – Access Bank Board Chair

    Rock of the Future: Chairman of Atlantic Lithium Neil Herbert (l) presents a sample of Lithium ore to MIIF CEO Edward Nana Yaw Koranteng. Demand for Lithium is set to quadruple over the next ten years due to the accelera- tion in the production of Electronic Vehicles (EVs).

    MIIF to invest an initial $32.9 million into Ghana’s first lithium mine

  • TECHNOLOGY

    Genius IT Foundation achieves STEM.org accreditation

    Pharmaceutical Society charged to utilize AI to transform industry

    Apple says iPhone and iPad apps will show up on the vision OS App Store from the get-go

    China launches $41 billion fund to accelerate semiconductor industry

    Digital marketing: Event managers urged to explore growth opportunities

    Govt. urged to commit more investments to enhance AI competencies

    Stakeholders in digital ecosystem charged to do more to protect child privacy

    Cyber hygiene key for public safety – Dr. Albert Antwi Boasiako

    Ban on cryptocurrency still in force – Finance Ministry warns

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    South Africa adds Ghana to E Visa list

    Ofori-Atta commends G20 for AU’s inclusion, urges common voice

    Nine ventures announced for Africa Money and DeFi Summit investment showcase

    African Union to launch regional credit rating agency in 2024

    New study reveals alarming food access disparity affecting 650 million Africans

    Global food price index declines in August

    ECO currency challenges: Technical committee attributes delays to external shocks, others

    African leaders emphasize in-continent processing of mineral wealth at climate summit

    Indian investors commit $14 billion to Nigeria, to strengthen several Nigerian sectors

  • FEATURES
  • Videos
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    BOST clarifies amount paid for iPhones bought for company executives

    IMF hopeful Ghana will soon reach agreement with Official Credit Committee

    Fuel prices to remain fairly stable at the pumps – COPEC

    Restructuring NIB’s balance sheet won’t fix solvency challenges – Banking consultant cautions

    2023 #CitiBusinessOlympics: Defending champions GCB retains title

    Check out some lively photos from 2023 #CitiBusinessOlympics

    #CitiBusinessOlympics: Citi TV/Citi FM applauded for well-organized event

    Photos: 2023 #CitiBusinessOlympics underway at Eden Heights

    Stakeholders push for West African airline to boost sub-regional trade

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    FBNBank Ghana launches Akye promotion

    Transport owners and the missing NPA: who assured Sentuo to import BRVs?

    BOST clarifies amount paid for iPhones bought for company executives

    Fuel prices to remain fairly stable at the pumps – COPEC

    Restructuring NIB’s balance sheet won’t fix solvency challenges – Banking consultant cautions

    Thousands to participate in 2023 #CitiBusinessOlympics today

    Vodafone Ghana’s commitment to SMEs shines at Business Runway 2023

    SMEs must incentivize staff to unlock full potential – Access Bank Board Chair

    Rock of the Future: Chairman of Atlantic Lithium Neil Herbert (l) presents a sample of Lithium ore to MIIF CEO Edward Nana Yaw Koranteng. Demand for Lithium is set to quadruple over the next ten years due to the accelera- tion in the production of Electronic Vehicles (EVs).

    MIIF to invest an initial $32.9 million into Ghana’s first lithium mine

  • TECHNOLOGY

    Genius IT Foundation achieves STEM.org accreditation

    Pharmaceutical Society charged to utilize AI to transform industry

    Apple says iPhone and iPad apps will show up on the vision OS App Store from the get-go

    China launches $41 billion fund to accelerate semiconductor industry

    Digital marketing: Event managers urged to explore growth opportunities

    Govt. urged to commit more investments to enhance AI competencies

    Stakeholders in digital ecosystem charged to do more to protect child privacy

    Cyber hygiene key for public safety – Dr. Albert Antwi Boasiako

    Ban on cryptocurrency still in force – Finance Ministry warns

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    South Africa adds Ghana to E Visa list

    Ofori-Atta commends G20 for AU’s inclusion, urges common voice

    Nine ventures announced for Africa Money and DeFi Summit investment showcase

    African Union to launch regional credit rating agency in 2024

    New study reveals alarming food access disparity affecting 650 million Africans

    Global food price index declines in August

    ECO currency challenges: Technical committee attributes delays to external shocks, others

    African leaders emphasize in-continent processing of mineral wealth at climate summit

    Indian investors commit $14 billion to Nigeria, to strengthen several Nigerian sectors

  • FEATURES
  • Videos
No Result
View All Result
Citi Business News
No Result
View All Result

Global stocks at three-week highs as Fed decision looms

bycitibusinessnews
September 17, 2015
in Banking And Finance, Business, News
Share on FacebookShare on TwitterShare on Whatsapp

World stocks inched to a three-week high on Thursday while the dollar drifted lower against other currencies, as investors consolidated positions ahead of a nail-biting U.S. Federal Reserve interest rate decision.

There was a sense of relief as much as anything that after months of market speculation and advice from almost everyone from the IMF to the heads of the world’s top companies, that the wait for the Fed’s verdict would be over by 1800 GMT.

Europe’s main share markets were left at a virtual standstill with Britain’s FTSE 100, Germany’s DAX and France’s CAC 40 all barely budged after two days of gains helped by a flurry of merger activity.

ADVERTISEMENT

Currency and bond market moves were low key too.

The dollar was under mild pressure mostly from the euro after weak U.S. inflation data had underscored one of the arguments for the Fed to hold fire, while oil and some other key commodities gave back some of their recent gains.

“We think it is going to be a very close call (for the Fed),” said Stephen Chiu, a strategist at Mitsubishi UFJ Financial Group in Hong Kong.

“Communicating the future path of interest rates is very important and the Fed would be careful not to signal any excessive tightening given global markets are still very vulnerable.”

The U.S. central bank’s move is garnering such intense attention because it would be the first rise in its interest rates since 2006 and from the near zero they have been at since the height of global financial crisis in late 2008.

While the markets have expected it to hike for most of this year, those expectations have faded following a bout of global market turmoil over the last couple of months, especially in China.

Futures pricing suggests an only 1 in 4 chance that it will pull the trigger.

Despite a late dip 2 percent in volatile Chinese stocks, MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.6 percent to its highest level in three weeks.

Japan’s Nikkei .N225 climbed 1.4 percent too while Australian and Malaysian shares rose 1 and 1.8 percent.

Even if the Fed were to raise rates, many market players expect officials to signal a dovish stance on the pace of future increases, rather than herald a brisk series of increases.

There is also the comfort that both the European Central Bank and the Bank of Japan appear to be gearing up for fresh rounds of stimulus and rates are still being cut in many parts of the world.

Switzerland’s central bank left its policy of negative interest rates unchanged on Thursday as it seeks to weaken a “significantly overvalued” Swiss franc.

It also predicted a deeper-than-expected bout of deflation due to low oil prices.

The oil price slumped between April and August but has since steadied and it was holding on to sharp gains made on Wednesday in early European trading.

U.S. West Texas Intermediate (WTI) crude futures were last at $47.21 per barrel, while Brent had dipped back to just under $50 a barrel.

Gold prices also consolidated gains it had made on Wednesday at it hovered at $1,120 per ounce.

Silver was also at its highest level in three weeks at $14.90 per ounce.

The yield on the U.S. two-year note held near a 4 1/2-year high at 0.803 percent.

Even if the Fed doesn’t pull the trigger later it is still expected to by the end of the year.

Euro zone bond yields meanwhile were largely steady, as France and Spain faced the uncomfortable task of selling debt hours before the U.S. rate decision.

France plans to sell 7-8 billion euros of medium-term bonds, as well as 1.0-1.5 billion of inflation-linked debt.

Spain is due to sell 4-5 billion of bonds maturing in up to 10 years.

“(The Fed meeting) could have a slightly dampening impact on demand and keep some investors sidelined,” said KBC rate strategist Mathias van der Jeugt, who expects the Fed to hike rates but signal a very slow pace of future tightening.

–

Source:  Reuters

Related Posts

Banking And Finance

FBNBank Ghana launches Akye promotion

byKabah Atawoge

As a means of offering customers variety, excitement, and rewards, FBNBank Ghana has launched an exciting campaign dubbed the ‘Akye...

Read more

Transport owners and the missing NPA: who assured Sentuo to import BRVs?

BOST clarifies amount paid for iPhones bought for company executives

IMF hopeful Ghana will soon reach agreement with Official Credit Committee

Fuel prices to remain fairly stable at the pumps – COPEC

Restructuring NIB’s balance sheet won’t fix solvency challenges – Banking consultant cautions

2023 #CitiBusinessOlympics: Defending champions GCB retains title

Next Post

'Volatile' oil price hard to predict- Shell boss

Video on Demand: Business Weekly

ADVERTISEMENT
Citi Business News

© 2023 Citi Business News - CitiBusinessNews.com by CNR Digital.

Navigate Site

  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

© 2023 Citi Business News - CitiBusinessNews.com by CNR Digital.